xjo 5000 by friday, page-33

The way an investor needs to think in a crisis is all about forward earnings and forward value.

e.g. Roger M said recently that BHP was worth $48 in 2008 and $18 in 2009. To me this is [content moderated], BHP's value never dropped to $18 just because the Chinese brought imports to a halt temporarily. Isn't the whole point of investing to buy future earnings? Charting and trading a different story but can combine to be very complimentary? Certainly wish I was more up to speed on the later going into 2008 :)